ALROSA Q4 and 12M 2020 IFRS results

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MDA Q4&12M 2020 Release
MDA Q4&12M 2020 Presentation
IFRS Q4&12M 2020 Consolidated statement
IFRS Q4&12M 2020 Consolidated statement_EXCEL

Moscow, 02 March 2021 – ALROSA, a global leader in diamond mining, announces its IFRS results for Q4 and 12M 2020.

RUB bn

Q4
2020

Q3
2020

q-o-q

Q4
2019

y-o-y

12М
2020

12М
2019

y-o-y

Diamond sales, m ct, incl.

17.0

5.0

3.4x

8.2

2.1x

32.1

33.4

(4%)

gem-quality

12.2

4.1

3.0х

5.9

2.1x

23.8

24.2

(2%)

industrial

4.8

0.9

5.4x

2.2

2.1x

8.3

9.3

(11%)

Revenue

98.6

49.7

98%

64.6

53%

221.5

238.2

(7%)

EBITDA

31.8

25.7

24%

29.5

8%

87.6

107.1

(18%)

EBITDA margin

32%

52%

(20 pp)

46%

(14 pp)

40%

45%

(5 pp)

Net profit

21.3

7.6

2.8x

11.7

83%

32.2

62.7

(49%)

Free cash flow2

65.2

22.6

2.9x

16.8

3.9x

79.5

47.6

67%

Net debt3

31.2

107.0

(71%)

79.6

(61%)

31.2

79.6

(61%)

Net debt / LTM EBITDA

0.4x

1.25х

-

0.74x

 -

0.36x

0.74x

-

Alexey Philippovskiy, ALROSA’s CFO:

“In Q4, we saw a continued recovery in demand for diamonds primarily driven by steady demand for diamond jewelry from end consumers. At the end of 2020 and during the Christmas holiday season, sales in the key US and China markets were growing at double-digit rates y-o-y.

ALROSA’s Q4 sales in totalled 17 m cts, 3.4x up q-o-q and 2.1x up y-o-y. This boosted the Company’s financials: our revenue nearly doubled to RUB 99 bn, with EBITDA reaching RUB 32 bn. Given the increase in operating cash flow, reduction in capex, as well as diamond inventories going down from 30.6 m cts at the end of Q3 to 20.7 m cts at the year-end, our FCF amounted to RUB 65 bn and RUB 88 bn for Q4 and H2’20 respectively.

The recovery of sales allowed the Company to begin intensive deleveraging efforts in Q4, which included an early repayment of two bank loans in the total amount of $275 m and a scheduled redemption of the remaining $494 m Eurobond placed in 2010 with a coupon rate of 7.75% per annum. ALROSA’s leverage (Net Debt / EBITDA) as at the end of the year decreased to 0.4 (Q3: 1.25).”


1 EBITDA stands for the Group’s earnings or loss for the period adjusted for income tax expenses, financial income and expenses, share of net profit of associates and joint ventures, depreciation and amortisation, impairment and disposals of property, plant and equipment, gain or loss on disposal of joint ventures, revaluation of investments, and one-off items.

2FCF (free cash flow) is the operating cash flow calculated in accordance with the International Financial Reporting Standards (IFRS), net of capital expenditure (posted as Purchase of Property, Plant and Equipment on the consolidated IFRS statement of cash flows).

3Net debt is the amount of debt less cash and cash equivalents and bank deposits at each reporting date in accordance with the IFRS.

This page was last updated on 02 March 2021 at 10.32